Washington - Saba:
A new report from a specialized energy platform revealed that an Arab country topped the list of the five largest oil deals for 2025.
The report highlighted that Iraq led the top oil deals in February 2025, followed by Saudi Arabia and Syria. These major oil deals in February included agreements for the export, sale, and purchase of crude oil, as well as acquisitions of stakes in projects and the establishment of large-scale ventures.
The five largest oil deals of February 2025 included three deals from Iraq, one important acquisition deal by Saudi Aramco, and one deal in Syria.
One of the major deals includes the development of 9 billion barrels of oil reserves in Kirkuk's fields, under an agreement between the North Oil Company of Iraq and BP. This is the first such development after a six-year gap.
The Basra Oil Company signed two agreements with Halliburton to develop the Nahr Ben Umar and Sindbad fields. These agreements aim to increase production and enhance resource efficiency.
Additionally, Iraq's Oil Company signed a deal with the Chinese company SBS to apply artificial intelligence in the East Baghdad field, one of the largest in the country, to improve extraction efficiency and reduce downtime.
Saudi Aramco also signed a deal to acquire a 25% stake in UniOil Petroleum, one of the largest oil companies in the Philippines, further expanding its presence in refining, petrochemicals, and marketing.
Syria made its mark in the top 5 oil deals with its first oil shipment from the northeastern region to Damascus, marking a significant exchange with the new government. This deal was notable as it was the first oil shipment from the resource-rich northeastern region to Damascus.
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